What changed in this filing

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Item 1. Financial Statements

2026-05-21 compared with 2026-02-19 · 142 added, 90 removed, 476 unchanged (33% of the section changed)

1 unchanged sentence

Condensed Consolidated Statements of Income

Three Months Ended

(In thousands, except for per share data) January 31, 2026 January 31, 2025

Three Months Ended Six Months Ended

(In thousands, except for per share data) April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025

Sales $ 740,847 $ 682,938 $ 1,410,308 $ 1,298,358

3 unchanged sentences

Interest expense ( 21,942 ) ( 26,572 ) ( 45,073 ) ( 53,131 )

Pension settlement charge ( 24,049 ) — ( 24,049 ) —

Interest and investment income 362 553 752 1,494

Other income - net 20,837 1,526

Other income (expense) - net ( 10,400 ) ( 3,961 ) 10,437 ( 2,435 )

Income before income taxes 141,174 138,770 305,675 255,625

8 unchanged sentences

Consolidated Statements of Comprehensive Income

Three Months Ended

(In thousands) January 31, 2026 January 31, 2025

Three Months Ended Six Months Ended

(In thousands) April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025

Net income $ 117,316 $ 112,404 $ 250,698 $ 207,056

9 unchanged sentences

Current assets:

January 31, 2026 October 31, 2025

April 30, 2026 October 31, 2025

Cash and cash equivalents $ 102,017 $ 108,442

38 unchanged sentences

Consolidated Statements of Shareholders’ Equity

Three Months Ended January 31, 2026

Six Months Ended April 30, 2026

(In thousands, except for share and per share data) Common

14 unchanged sentences

January 31, 2026 $ 12,253 $ 762,137 $ 4,688,200 $ ( 57,203 ) $ ( 2,293,281 ) $ 3,112,106

Three Months Ended January 31, 2025

Shares issued under company stock and employee benefit plans — 21,841 — — 2,372 24,213

Stock-based compensation — 6,147 — — — 6,147

Purchase of treasury shares — — — — ( 43,302 ) ( 43,302 )

Dividends declared ($ 0.82 per share)

— — ( 45,856 ) — — ( 45,856 )

Net income — — 117,316 — — 117,316

Other comprehensive income — — — 31,611 — 31,611

April 30, 2026 $ 12,253 $ 790,125 $ 4,759,660 $ ( 25,592 ) $ ( 2,334,211 ) $ 3,202,235

Six Months Ended April 30, 2025

(In thousands, except for share and per share data) Common

14 unchanged sentences

January 31, 2025 $ 12,253 $ 719,073 $ 4,345,249 $ ( 236,007 ) $ ( 1,963,957 ) $ 2,876,611

Shares issued under company stock and employee benefit plans — 1,554 — — 248 1,802

Stock-based compensation — 4,791 — — — 4,791

Purchase of treasury shares — — — — ( 86,154 ) ( 86,154 )

Dividends declared ($ 0.78 per share)

— — ( 44,335 ) — — ( 44,335 )

Net income — — 112,404 — — 112,404

Other comprehensive income — — — 95,185 — 95,185

April 30, 2025 $ 12,253 $ 725,418 $ 4,413,318 $ ( 140,822 ) $ ( 2,049,863 ) $ 2,960,304

See accompanying notes.

1 unchanged sentence

Condensed Consolidated Statements of Cash Flows

(In thousands) Three Months Ended

(In thousands) Six Months Ended

Cash flows from operating activities:

January 31, 2026 January 31, 2025

April 30, 2026 April 30, 2025

Net income $ 250,698 $ 207,056

1 unchanged sentence

Depreciation and amortization 72,900 74,608

Pension settlement charge 24,049 —

Non-cash stock compensation 11,038 9,424

8 unchanged sentences

Other ( 1,794 ) 10,041

Acquisition of business, net of cash acquired ( 11,643 ) —

Net cash used in investing activities ( 40,024 ) ( 27,100 )

14 unchanged sentences

Notes to Condensed Consolidated Financial Statements

January 31, 2026

April 30, 2026

NOTE REGARDING AMOUNTS AND FISCAL YEAR REFERENCES

In this Quarterly Report on Form 10-Q, all amounts related to United States dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands.

In this Quarterly Report on Form 10-Q, all amounts related to U.S.

dollars and foreign currency and to the number of Nordson Corporation’s common shares, except for per share earnings and dividend amounts, are expressed in thousands.

Unless the context otherwise indicates, all references to “we” or the “Company” mean Nordson Corporation.

6 unchanged sentences

In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.

Operating results for the three months ended January 31, 2026 are not necessarily indicative of the results that may be expected for the full year.

Operating results for the six months ended April 30, 2026 are not necessarily indicative of the results that may be expected for the full year.

For further information, refer to the Consolidated Financial Statements and notes included in our Annual Report on Form 10-K for the year ended October 31, 2025.

11 unchanged sentences

For products in which control transfers upon delivery, revenue is deferred for undelivered items and included within Accrued liabilities in our Consolidated Balance Sheets.

Revenues deferred as of January 31, 2026 and October 31, 2025 were not material.

Revenues deferred as of April 30, 2026 and October 31, 2025 were not material.

For certain contracts related to the sale of customer-specific products, revenue is recognized over time as we satisfy performance obligations because of the continuous transfer of control to the customer.

4 unchanged sentences

Under this method, revenues are recorded proportionally as costs are incurred.

Contract assets recognized are recorded in Prepaid expenses and other current assets and contract liabilities are recorded in Accrued liabilities in our Consolidated Balance Sheets and were not material as of January 31, 2026 and October 31, 2025.

Revenue recognized over time represented approximately less than ten percent of our overall consolidated revenues for the periods ended January 31, 2026 and October 31, 2025.

Revenue recognized over time represented approximately less than ten percent of our overall consolidated revenues for the periods ended April 30, 2026 and October 31, 2025.

Revenue is measured as the amount of consideration we expect to be entitled to in exchange for transferring products or services.

16 unchanged sentences

Options whose exercise price is higher than the average market price are excluded from the calculation of diluted earnings per share because the effect would be anti-dilutive.

Options for 73 a nd 193 common shares were excluded from the calculation of diluted earnings per share for the three months ended January 31, 2026 and 2025, respectively, because their effect would have been anti-dilutive .

Options for 0 and 336 common shares were excluded from the calculation of diluted earnings per share for the three months ended April 30, 2026 and 2025, respectively, because their effect would have been anti-dilutive.

Options for 37 and 264 common shares were excluded from the calculation of diluted earnings per share for the six months ended April 30, 2026 and 2025, respectively, because their effect would have been anti-dilutive.

Under the 2021 Stock Incentive and Award Plan, executive officers and selected other key employees receive common share awards based on corporate performance measures over three-year performance periods.

1 unchanged sentence

Recently issued accounting standards

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280):

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures .

7 unchanged sentences

The guidance in ASU 2023-09 will be effective for annual reporting periods in fiscal years beginning after December 15, 2024.

The Company is currently evaluating the impact that the adoption of ASU 2023-09 will have on its consolidated financial statements and disclosures and anticipates adoption in fiscal 2026 in its Annual Report on Form 10-K for the year ending October 31, 2026.

The Company will adopt the standard in its Annual Report on Form 10-K for the year ending October 31, 2026.

The Company is currently evaluating the impact of the adoption of ASU 2023-09 and expects the adoption of the standard will only impact its disclosures with no material impact on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220):

1 unchanged sentence

ASU 2024-03 does not change or remove current expense presentation requirements within the Consolidated Statements of Income.

However, the amendments require disclosure, on an annual and interim basis, disaggregated information about certain income statement expense line items within the notes to the consolidated financial statements.

However, the amendments require disclosure, on an annual and interim basis, of disaggregated information about certain income statement expense line items within the notes to the consolidated financial statements.

The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027.

The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on its consolidated financial statements and disclosures and anticipates adoption in fiscal 2028.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) Targeted Improvements to the Accounting for Internal-Use Software (ASU 2025-06).

This accounting standard changes when software project costs should be capitalized by removing all references to development stages and requiring costs to be capitalized when (1) the Company authorizes and commits to funding the software project and (2) it is probable the software project will be completed.

The standard also requires additional annual and interim disclosures, including the capitalized software balance and accumulated amortization.

ASU 2025-06 is effective for annual reporting periods, including interim reporting periods within those annual periods, beginning after December 15, 2027, with early adoption permitted and may be applied prospectively, retrospectively, or using a modified prospective transition approach.

The Company is evaluating the impact of ASU 2025-06 to its consolidated financial statements and related disclosures.

Nordson Corporation

Business acquisitions have been accounted for using the acquisition method, with the acquired assets and liabilities recorded at estimated fair value on the dates of acquisition.

6 unchanged sentences

We may also require prepayments or bank guarantees from customers to mitigate credit risk.

Our receivables are generally short-term

Nordson Corporation

in nature with a majority of receivables outstanding less than 90 days.

Our receivables are generally short-term in nature with a majority of receivables outstanding less than 90 days.

Accounts receivable balances are written-off against the allowance if deemed uncollectible.

Accounts receivable are net of an allowance for credit losses of $ 6,504 a nd $ 7,408 o n January 31, 2026 and October 31, 2025, respectively.

Provision income was $ 589 for the three months ended January 31, 2026 co mpared to provision income of $ 382 for the three months ended January 31, 2025.

Accounts receivable are net of an allowance for credit losses of $ 5,995 a nd $ 7,408 o n April 30, 2026 and October 31, 2025, respectively .

Provision for losses on receivables was $ 479 for the three months ended April 30, 2026, while provision for income on receivables was $ 110 for the six months ended April 30, 2026, co mpared to provision for income on receivables of $ 262 and $ 644 for the same periods last year, respectively.

The remaining change in the allowance for credit losses is principally related to the write-off of uncollectible accounts.

Components of inventories were as follows:

January 31, 2026 October 31, 2025

April 30, 2026 October 31, 2025

Finished goods $ 255,559 $ 234,710

6 unchanged sentences

Components of property, plant and equipment were as follows:

January 31, 2026 October 31, 2025

April 30, 2026 October 31, 2025

Land $ 39,247 $ 32,579

8 unchanged sentences

$ 521,390 $ 516,914

Depreciation expense was $ 17,016 and $ 17,720 for the three months ended January 31, 2026 and 2025, respectively.

Depreciation expense was $ 16,909 and $ 17,881 for the three months ended April 30, 2026 and 2025, respectively.

Depreciation expense was $ 33,925 and $ 35,601 for the six months ended April 30, 2026 and 2025, respectively.

Nordson Corporation

Goodwill and other intangible assets

Our reporting units are the same as our reportable operating segments, Industrial Precision Solutions ("IPS"), Medical and Fluid Solutions ("MFS"), and the Advanced Technology Solutions ("ATS") segments.

Changes in the carrying amount of goodwill for th e three months ended January 31, 2026 by operating segment :

Changes in the carrying amount of goodwill for th e six months ended April 30, 2026 by operating segment :

IPS MFS ATS Total

1 unchanged sentence

Currency effect 24,888 720 2,634 28,242

Balance at January 31, 2026 $ 1,233,491 $ 1,648,631 $ 450,122 $ 3,332,244

Nordson Corporation

Balance at April 30, 2026 $ 1,235,254 $ 1,648,188 $ 449,485 $ 3,332,927

Information regarding intangible assets subject to amortization:

January 31, 2026

April 30, 2026

Amount Accumulated

15 unchanged sentences

Total $ 1,313,309 $ 631,722 $ 681,587

Amortization expense for the three months ended January 31, 2026 and 2025 was $ 19,569 and $ 19,311 , respectively.

Amortization expense for the three months ended April 30, 2026 and 2025 was $ 19,406 and $ 19,697 , respectively.

Amortization expense for the six months ended April 30, 2026 and 2025 was $ 38,975 and $ 39,007 , respectively.

Pension and other postretirement plans

The components of net periodic pension costs for the three months ended January 31, 2026 and 2025 were:

During the second quarter of 2026, we completed a partial plan settlement transaction in regards to our U.S.

pension plan in which plan assets amounting to $ 104,148 were used to purchase a group annuity contract from RGA Life and Annuity Insurance Company ("RGA").

The settlement resulted in a loss of $ 24,049 as shown on the Condensed Consolidated Statements of Income.

This transaction relieved the Company of its responsibility for the pension obligation related to certain retired employees and transferred the obligation and payment responsibility to RGA for retirement benefits owed to approximately 1,000 retirees and other beneficiaries.

The annuity contract covers retirees who commenced receiving benefits on or before February 1, 2026.

The monthly retirement benefit payment amounts currently received by retirees and their beneficiaries did not change as a result of this transaction.

Plan participants not included in the transaction remain in the plans and responsibility for payment of the retirement benefits remains with the Company.

Nordson Corporation

The components of net periodic pension costs for the three and six months ended April 30, 2026 and 2025 were:

International

2026 2025 2026 2025

Three Months Ended 2026 2025 2026 2025

Service cost $ 1,985 $ 2,531 $ 133 $ 239

3 unchanged sentences

Amortization of net actuarial (gain) loss 814 474 ( 87 ) ( 68 )

Settlement loss 24,049 — — —

Total benefit cost $ 25,005 $ 1,087 $ 100 $ 157

The components of other postretirement benefit costs, for plans in the United States, for the three months ended January 31, 2026 and 2025:

International

Six Months Ended 2026 2025 2026 2025

Service cost $ 4,046 $ 5,062 $ 265 $ 471

Interest cost 8,757 9,383 1,211 1,262

Expected return on plan assets ( 12,664 ) ( 13,219 ) ( 1,098 ) ( 1,289 )

Amortization of prior service credit — — ( 4 ) ( 4 )

Amortization of net actuarial (gain) loss 1,865 947 ( 172 ) ( 136 )

Settlement loss 24,049 — — —

Total benefit cost $ 26,053 $ 2,173 $ 202 $ 304

The components of other postretirement benefit costs, for plans in the United States, for the three and six months ended April 30, 2026 and 2025:

Three Months Ended 2026 2025

Service cost $ 35 $ 58

Interest cost 522 643

Amortization of net actuarial gain ( 413 ) ( 124 )

Total benefit cost $ 144 $ 577

The components of net periodic pension and other postretirement cost, other than service cost, are included in Other – net in our Condensed Consolidated Statements of Income.

Nordson Corporation

Six Months Ended 2026 2025

Service cost $ 70 $ 117

Interest cost 1,045 1,294

Amortization of net actuarial gain ( 827 ) ( 250 )

Total benefit cost $ 288 $ 1,161

The components of net periodic pension and other postretirement cost, other than service cost, are included in Other income (expense) – net and Pension settlement charge in our Condensed Consolidated Statements of Income.

We record our interim provision for income taxes based on our estimated annual effective tax rate, as well as certain items discrete to the current period.

The effective tax rate for the three months ended January 31, 2026 and 2025 was 18.9 % and 19.0 %, respectively.

The effective tax rate for the three months ended January 31, 2026 was lower than the U.S.

The effective tax rate for the three months ended April 30, 2026 and 2025 was 16.9 % and 19.0 %, respectively.

The effective tax rate for the six months ended April 30, 2026 and 2025 was 18.0 % and 19.0 %, respectively.

The effective tax rate for the three and six months ended April 30, 2026 was lower than the U.S.

tax rate of 21 % primarily due to the foreign-derived intangible income deduction.

One Big Beautiful Bill Act

On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was signed into law in the United States.

The OBBBA includes significant tax law changes, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions.

While several provisions under the OBBBA begin to take effect during the Company’s fiscal year ended October 31, 2026, the OBBBA did not have a material impact on the Company’s consolidated financial statements in the three months ended January 31, 2026.

The Company will continue to assess the impact of the OBBBA for the year ending October 31, 2026.

The OBBBA is not expected to have a material impact on the effective tax rate.

The Company continues to assess the impact of the One Big Beautiful Bill Act ("OBBBA"), enacted on July 4, 2025 and taking effect during the Company’s fiscal year ending October 31, 2026.

There is no material impact from OBBBA on the effective tax rate or consolidated financial statements for the quarter ended April 30, 2026.

Nordson Corporation

Accumulated other comprehensive income (loss)

9 unchanged sentences

Reclassifications from AOCI to Statement of Income (2)

— 24,891 24,891

Tax impact 4,024 ( 8,810 ) ( 4,786 )

Balance at January 31, 2026 (1)

Balance at April 30, 2026 (1)

$ ( 5,094 ) $ ( 20,498 ) $ ( 25,592 )

(1) Amounts net of tax.

(2) Included in the computation of net periodic cost (benefit) which is included in Other - net in our Consolidated Statements of Income.

(2) Included in the computation of net periodic cost (benefit) which is included in Other income (expense) - net in our Consolidated Statements of Income.

See Pension and other postretirement plans Note.

4 unchanged sentences

The liability for warranty costs is included in Accrued liabilities in the Consolidated Balance Sheets.

Following is a reconciliation of the product warranty liability for the three months ended January 31, 2026 and 2025:

Following is a reconciliation of the product warranty liability for the six months ended April 30, 2026 and 2025:

Beginning balance at October 31 $ 13,900 $ 13,538

29 unchanged sentences

The following table presents information about our reportable segments as further reconciled to consolidated GAAP financial results:

Three Months Ended

January 31, 2026 January 31, 2025

Three Months Ended Six Months Ended

April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025

Industrial Precision Solutions $ 350,466 $ 318,847 $ 677,327 $ 619,295

27 unchanged sentences

Interest and investment income 362 553 752 1,494

Pension settlement charge ( 24,049 ) — ( 24,049 ) —

Other - net ( 10,400 ) ( 3,961 ) 10,437 ( 2,435 )

1 unchanged sentence

Nordson Corporation

The following table presents additional information about our reportable segments for the three months ended or period ended:

The following table presents additional information about our reportable segments:

Industrial Precision Solutions Medical and Fluid Solutions Advanced Technology Solutions Corporate Total

January 31, 2026

Three months ended April 30, 2026

Amortization of intangibles $ 7,552 $ 9,533 $ 2,321 $ — $ 19,406

Identifiable assets (1)

1,881,578 2,187,997 747,941 1,143,406 5,960,922

Property, plant and equipment expenditures 2,467 5,479 2,234 — 10,180

January 31, 2025

Three months ended April 30, 2025

Amortization of intangibles $ 7,019 $ 9,695 $ 2,983 $ — $ 19,697

Property, plant and equipment expenditures 4,054 2,269 7,851 1,865 16,039

Six months ended April 30, 2026

Amortization of intangibles 15,072 19,204 4,699 — 38,975

Property, plant and equipment expenditures 5,732 10,804 11,002 155 27,693

Six months ended April 30, 2025

Amortization of intangibles 13,828 19,132 6,047 — 39,007

Property, plant and equipment expenditures 13,583 17,181 4,393 2,282 37,439

As of April 30, 2026

Identifiable assets (1)

1,898,264 2,191,580 772,837 1,101,737 5,964,418

Property, plant and equipment expenditures 5,070 9,330 2,124 4,875 21,399

As of October 31, 2025

Identifiable assets (1)

1,858,974 2,201,528 738,762 1,118,417 5,917,681

(1) Operating segment identifiable assets include notes and accounts receivable net of allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill.

Corporate assets are principally cash and cash equivalents, deferred income taxes, leases, headquarter facilities and intangible assets.

We had significant net sales, measured based on their geographic destination, and long-lived assets in the following geographic areas:

January 31, 2026 January 31, 2025

Net external sales for three months ended

We had significant net sales, measured based on their geographic destination, as follows:

Three Months Ended Six Months Ended

April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025

Net external sales

Americas $ 308,253 $ 292,463 $ 570,183 $ 560,300

2 unchanged sentences

Total net external sales 740,847 682,938 1,410,308 1,298,358

Long-lived assets

Americas $ 421,462 $ 465,600

Europe 108,566 103,813

Asia Pacific 61,238 56,849

Total long-lived assets $ 591,266 $ 626,262

Net external sales in the United States were $ 198,523 for the three months ended January 31, 2026 and $ 208,820 for the three months ended January 31, 2025.

Long-lived assets include property, plant and equipment - net and operating right of use lease assets.

Long-lived assets in the U.S.

were $ 412,713 and $ 450,029 as of January 31, 2026 and 2025, respectively.

The Company holds minority interests in certain companies that do not have readily determinable fair values.

For each qualifying investment, the Company elects the measurement alternative under ASC 321, initially recognizing the investment at cost and subsequently adjusting the carrying amount for (i) impairment and (ii) observable price changes in orderly transactions for an identical or similar investment of the same issuer.

Investments subject to the measurement alternative are classified in Other assets on the Consolidated Balance Sheets and were $ 7,335 and $ 13,996 , at January 31, 2026 and October 31, 2025, respectively.

Adjustments (upward or downward) and impairment losses, if any, are recognized in earnings within Other-net and were not material for fiscal 2026 and 2025.

Investments subject to the measurement alternative are classified in Other assets on the Consolidated Balance Sheets and were $ 5,040 and $ 13,996 , at April 30, 2026 and October 31, 2025, respectively.

Adjustments (upward or downward) and impairment losses, if any, are recognized in earnings within Other income (expense) - net and were not material for the three and six months ended April 30, 2026 and 2025.

If a readily determinable fair value for the investments subsequently becomes available, we will be required to record the investment at fair value with any unrealized gains or losses being recognized in earnings each period.

In December 2025, one of the Company's minority interest investments was publicly listed on a foreign stock exchange.

The fair value of this investment is included in Other assets on the Consolidated Balance Sheets and was $ 29,238 as of January 31, 2026.

The unrealized gain of $ 22,238 for the three months ended January 31, 2026 was included in Other-net in the Condensed Consolidated Statements of Income.

Nordson is contractually restricted from selling any shares in this investment until December 2028 and there are no circumstances that could cause this restriction to lapse earlier.

The fair value of this investment is included in Other assets on the Consolidated Balance Sheets and was $ 21,722 as of April 30, 2026.

The unrealized loss of $ 9,827 for the three months ended April 30, 2026 and unrealized gain of $ 12,411 for the six months ended

Nordson Corporation

April 30, 2026 was included in Other income (expense) - net in the Condensed Consolidated Statements of Income.

Nordson is contractually restricted from selling any shares in this investment until December 2028, and there are no circumstances that could cause this restriction to lapse earlier.

Fair value measurements

4 unchanged sentences

The following tables present the classification of our assets and liabilities measured at fair value on a recurring basis:

January 31, 2026 Total Level 1 Level 2 Level 3

April 30, 2026 Total Level 1 Level 2 Level 3

Net derivative contracts (1)

17 unchanged sentences

The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term nature of these instruments.

January 31, 2026 October 31, 2025

April 30, 2026 October 31, 2025

Carrying Amount Fair Value Carrying Amount Fair Value

13 unchanged sentences

The settlement of these contracts is recorded in operating activities on the Consolidated Statement of Cash Flows.

Nordson Corporation

We are exposed to credit-related losses in the event of nonperformance by counterparties to financial instruments.

2 unchanged sentences

Our customers represent a wide variety of industries and geographic regions.

As of January 31, 2026 and 2025, there were no significant concentrations of credit risk.

Nordson Corporation

As of April 30, 2026 and 2025, there were no significant concentrations of credit risk.

Net Investment Hedges

17 unchanged sentences

The following table provides information regarding the balance sheet and income statement impacts of the Company's derivatives:

January 31, 2026 Notional Amount $ Prepaid and other current assets Other assets Accrued liabilities Other long-term liabilities Type of hedge

April 30, 2026 Notional Amount $ Prepaid and other current assets Other assets Accrued liabilities Other long-term liabilities Type of hedge

Derivatives designated as hedges:

12 unchanged sentences

Total $ 12,031 $ 10,353 $ 16,026 $ 61,725

Gain (Loss) Recognized Location

January 31, 2026 January 31, 2025

Gain (Loss) Recognized Gain (Loss) Recognized Location

Three Months Ended Six Months Ended

April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025

Derivatives designated as hedges:

4 unchanged sentences

Derivatives not designated as hedges

Foreign currency forward contracts $ 23,579 $ ( 4,363 ) Other-net

Foreign currency balance sheet remeasurement $ ( 25,873 ) $ 4,694 Other-net

Foreign currency forward contracts $ ( 12,657 ) $ 22,314 $ 10,922 $ 17,951 Other income (expense) - net

Foreign currency balance sheet remeasurement $ 10,272 $ ( 25,513 ) $ ( 15,601 ) $ ( 20,819 ) Other income (expense) - net

Long-term debt

A summary of long-term debt is as follows:

January 31, 2026 October 31, 2025

Notes Payable $ 4,312 $ —

April 30, 2026 October 31, 2025

Revolving credit agreement, due 2031 295,000 —

14 unchanged sentences

Revolving credit agreement — In January 2026, we entered into a $ 1,200,000 senior unsecured multicurrency revolving credit facility with a group of banks, maturing in January 2031 (the “Revolving Credit Agreement”), which amended and restated the Company’s previous unsecured senior credit agreement, dated June 6, 2023, that included a term loan facility in the aggregate principal amount of $ 300,000 , maturing in June 2026, and a multicurrency revolving credit facility in the aggregate principal amount of $ 922,500 , maturing in June 2028.

The Company borrowed and had $ 400,000 outstanding on the Revolving Credit Agreement as of January 31, 2026.

The Company borrowed and had $ 295,000 outstanding under the Revolving Credit Agreement as of April 30, 2026.

The Revolving Credit Agreement permits borrowing in U.S.

2 unchanged sentences

The applicable margin is based on either the Company’s Leverage Ratio (as defined in the Revolving Credit Agreement) or then current Debt Rating (as defined in the Revolving Credit Agreement).

The weighted-average interest rate at January 31, 2026 was 4.69 %.

The weighted-average interest rate at April 30, 2026 was 4.69 %.

Senior notes, due 2026-2027 — These unsecured fixed-rate notes entered into in 2015 with a group of insurance companies have a remaining weighted-average life of 0.74 years.

The weighted-average interest rate at January 31, 2026 was 3.19 %.

The weighted-average interest rate at April 30, 2026 was 3.19 %.

Senior notes, due 2026-2030 — These unsecured fixed-rate notes entered into in 2018 with a group of insurance companies have a remaining weighted-average life of 2.15 years.

The weighted-average interest rate at January 31, 2026 was 4.08 %.

The weighted-average interest rate at April 30, 2026 was 4.08 %.

5.600% Notes due 2028 and 5.800% Notes due 2033 — In September 2023, we completed an underwritten public offering of $ 350,000 aggregate principal amount of 5.60 % Notes due 2028 and $ 500,000 aggregate principal amount of 5.80 % Notes due 2033.

4.500% Notes due 2029 — In September 2024, we completed an underwritten public offering of $ 600,000 aggregate principal amount of 4.50 % Notes due 2029.

We were in compliance with all covenants at January 31, 2026, and the amount we could borrow would not have been limited by any debt covenants.

We were in compliance with all covenants at April 30, 2026, and the amount we could borrow would not have been limited by any debt covenants.

Contingencies

3 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements